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CEEMEA FX Price Signal Summary: EURHUF Approaches A Major Resistance

EMERGING MARKETS
  • EURHUF remains bullish following last week's strong gains. Attention is on key resistance at 366.94, Oct 25 high where a clear break would confirm a resumption of the uptrend and open the major resistance at 369.54, the Apr 1, 2020 high. Key support has been defined at 358.48, Nov 4 low.
  • EURPLN outlook is positive too and the cross has probed resistance at 4.6480, Sep 30 high. A clear breach of this hurdle would strengthen a bullish case and expose 4.6800, Mar 29 high. Initial key support has been established at 4.5699, Nov 3 low.
  • USDZAR maintains a bullish tone despite pulling back from recent highs. The pair found support last week at the 50-day EMA and the low on Nov 9 of 14.8637 has been defined as a key short-term support. A break of resistance at 14.4926, Nov 3 high would strengthen the case for bulls and open 15.5726, Mar 8 high.
  • USDTRY remains firm and continues to appreciate. With a number of projection levels cleared, including the psychological 10.00 handle, the focus shifts to 10.0607, the 1.00 projection of the Oct 20 - 25 - 26 price swing. The 1.236 projection is at 10.2129. Key support lies at 9.4157, Oct 26 low.
  • USDRUB traded sharply higher Friday above the recent high of 72.2547, Nov 3 high. The break confirms a resumption of the upleg that started Oct 26 and note too that the pair is back above its 50-day EMA. The move higher has opened 73.6208 next, the Sep 20 high. Key short-term support has been defined at 70.5160, Nov 10 low.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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